India's Emerging Economy

Author: Kaushik BasuPublisher: Oxford University PressYear: 2004Language: EnglishPages: 319ISBN/UPC (if available): 0195670094 DescriptionIndia's economy over the last decade looks in many ways like a success story; after a major economic crisis in 1991, followed by bold reform measures, the economy has experienced a rapid economic growth rate, more foreign investment, and a boom in the information technology sector. Yet many in the country still suffer from crushing poverty, and social and political unrest remains a problem. These essays by leading academics, policymakers, and industrialists examine India's recent economic successes and their social and cultural context.India's rate of economic growth after the 1991 reforms were instituted reached a remarkable 7 per cent for three consecutive years, from 1994 to 1997. Several contributors to the volume ask what this means for the nation as a whole. In his essay Democracy and Secularism in India, Amartya Sen argues that economic progre